TCF Bank

A brief History of the TCF Bank.Doing business through its close to 450 banking locations spread mainly around the manufacturing belt region of U.S.A. TCF Bank is a banking organization that is nationally chartered and is in fact entirely owned by the TCF Financial Corporation which is headquartered in Wayzata, Minnesota.

The Business Profile of the TCF Bank

TCF Corporation, the company which owns TCF Bank is in fact a financial holding organization which is operating and functioning throughout the nation, with its total assets perking very close to the $14 Billion mark.

TCF Bank offers banking products and services to individual as well as institutionalized customers. TCF Bank alone earns around 85 percent of the total earnings of TCF Corporation.

Whereas the remaining associates of TCF Corporation furnish financial products and services such as :

equipment finance

leasing

investment opportunities

sales of insurance policies.

TCF Bank operates and provides full services in the following states of the U.S.

Minnesota

Wisconsin

Illinois

Michigan

Colorado

Indiana and

Arizona

TCF Bank has on offer a large sequence of financial products and services mainly those which are related to banking. Providing easy and affordable banking solutions for different sections of customers who may be segregated into the following :

Personal Banking

Small Business Banking

Commercial Banking, and

Leasing.

TCF Bank presently ranks as the 12th largest Visa® Classic debit card issuer in terms of sales volume in the U.S.A.

Personal Banking

Out of the four types of banking products and services circulated and offered in the market by the TCF Bank, the most significant sector is that of the Personal Banking. Under the wide umbrella of Personal Banking a great deal of services are provided to the individual customers of TCF Bank. The products and services offered under Personal Banking are as follows :

Checking accounts offered by the TCF BankEvery checking account allotted by the TCF Bank to its individual consumers include the following services which are provided absolutely free of cost :

TCF Check Card

financial transactions carried out using TCF Express Teller® ATMs

machine controlled Express Phone service throughout the day, that is, 24-hours

Banking through the Internet with check images

Banking through the Internet with check images

Savings and Money Market Accounts offered to the individual consumers of the TCF Bank

TCF Bank allotted Savings accounts come with added advantages which not only enhance the chances of customers achieving their personal objectives with regard to their own financial targets but similar to the Checking accounts these also entitle the individual account holder to a set of free services for which the customers are not charged even a single pence.

These free services usually include online access to extract account information during any part of the day in addition to all the services which are allowed to checking account holders.

Regular Savings accounts are the basic savings accounts furnished to individuals who are just commencing upon an initial savings plan.

Classic Savings accounts acquires as a result of market rates which are competitive and comes along with other significant characteristics.

Classic Money Market accounts gain on the similar grounds besides providing the advantages of banking throughout the day using Online Banking services.

Premier Savings accounts are allotted only to the account holders of TCF Premier Checking and TCF Premier Checking Plus accounts, these accounts are also subjected to the highest available savings interest rates.

Loans & Credit provided by the TCF Bank

The TCF Bank offers different schemes of loans and credits at affordable rates and suitable conditions to those who are in urgent need of finances. The Loan Officers working for TCF Bank make things easier for the customers who require loans and credits.

The various loan schemes offered by TCF Bank are :

Home Equity Lines of Credit provides the money as and when required by individuals in order to consolidate their financial liabilities, to improve and/or reinforce their personal homes and several other needs. Individuals can apply for loans under this scheme on account of expenses which may have already been incurred by them or will be incurred by them in the future.

Home Equity Loans allows for the individual consumers to take loans in order to meet their current expenses in relation to their homes. This loan scheme comes with the option of returning the loaned amount in monthly installments over a prolonged period of time.

Other loans provided by the TCF Bank at easy interest rates and subject to repayment schemes are as follows:

Home Purchase LoansTCF Bank empowers the customers who are aspiring to be home owners in realizing their dreams. The TCF Bank has on offer a vast range of loans to facilitate the purchase of new or used homes.

Home Refinance LoansThe profitable rates that are being currently enjoyed by the houses that are owned by the customers of TCF Bank, can be used to an advantage in order to secure refinance schemes at attractive low rates.

Personal Loans The customers of these loans offered by the TCF Bank can make use of these rather easily attainable loans which are conveniently added up with lower rates of interest to fulfill their personal requirements such as repairing their personal homes or buying cars or vehicles.

Education LoansThrough this loan scheme TCF Bank provides for the higher education of students. The loans on offer are customized to meet the personal requirements of the needful parents as well as students. The customers interested in borrowing need to decide upon the loan instrument which exactly fits the financing needs of the individual.

Personal Insurance policies offered by the TCF Bank.

TCF Bank is also into the Insurance business. Affordable Insurance policies that come along with adequate insurance coverages are the characteristic offerings of the TCF Bank in the personal insurance sector. Customers in the need of insuring their life, family as well as personal properties are offered customized insurance quotes that exactly fit their personal requirements.

Renters TCF Bank Insurance insures the personal properties belonging to the customers if those are subjected to cases of vindictive mischief, theft, and natural disasters etc.

TCF Bank Auto Insurance provides insurance for the self of the customer along with his or her family against damages caused to the insured vehicle, bodily injuries received by people, and also protection against lawsuits that might result from injuries received by third parties from accidents involving the insured vehicle.

TCF Bank Home Owners Insurance provides protection for the home equities of the customers and also the personal belongings of the customer from disasters.

Life Insurance policies provided by the TCF Bank prepares the customers for the adverse situations in life and at the same time secures the future of the dependents of the individual customers.

TCF Bank : Convenience Banking Services

Convenience Banking Services are the fruits of TCF Bank's ever ongoing process to update the facilities including financial products and services that are provided to make financial transactions much more easier and smooth, only to take some pressure off the busy schedule of the individual customers.

Convenience Banking Services of the TCF Bank are mainly comprising of the following customized services :

Online BankingSecure, fast and comfortable - this is how one may describe the Online Banking Services provided by TCF Bank to all its customers who have accounts with the bank.

Any computer that is connected to the Internet can be used to access the secure official website of the TCF Bank.

Online Bill PaymentBy making payments through the Internet by using the facilities offered through Online Banking Services provided by the TCF Bank, the customers no more have to go through the longer procedure involving the writing of checks.

TCF Bank Check Card Wherever Visa® debit cards are accepted the TCF Check cards can be used to carry out purchase transactions by the customers of the TCF Bank. People who have checking accounts with the bank and are allotted these cards, can use the TCF Bank check cards as they would use checks.

TCF Rewards ProgramsBeing a customer of the TCF Bank itself entitles one to regain the cash that they have spent for making purchases and also to be subject to rewards programs.

Visa® Gift CardsThe prepaid TCF Visa Gift Card can be used as one would use a Visa® debit card in order to buy things wherever the Visa® debit cards are accepted.

Payroll Direct DepositThis free, private and at the same time prompt service provided by the TCF Bank for its customers, enables the employers of the customers to make deposits towards monthly salaries directly into the bank account of the employee.

Express Coin ServiceThe TCF Bank owned Express Coin Service machines serves the individual customers of the TCF Bank by entitling them to an easy counting of all the change (coins) possessed by them.

These TCF Bank owned Express Coin Service machines are located at almost all TCF Bank branches.

Commercial Banking

The Commercial Banking facilities are in fact a wide range of services and products offered by the TCF Bank to its institutionalized customers. The needs of business concerns are very different from those of the individual consumers. Therefore TCF Bank has on offer an unique set of Commercial banking services and products for such consumers who subscribe to its financial benefits.

TCF Bank provided Loans and Credit for business concerns

The commercial loans and credits offered by TCF Bank to those commercial organizations which are in need of finances are of different types to fit the unique needs of different sorts of businesses. The relationship managers of TCF Bank are working tirelessly in order to provide the best options to the concerns which are in need of capital either to commence upon new business or to expand the business.

TCF Bank Working Capital Lines of Credit is a loan that is specially customised to meet the deficits that are experienced on a daily basis by several business concerns. It allows for the commercial institutions to carry out the purchase of new inventories, to earn discounts in trade and also to meet the daily expenses incurred due to the business operations.

TCF Bank Term LoansThis loan can be utilised by business owners to provide finance for different business related projects that are usually undertaken in order to expand their businesses. The finance provided through Term Loans may be used for the development of owner-occupied real estate, and purchase of permanent assets such as equipments and vehicles.

SBA Loans TCF Bank provides SBA Loans or Credit Lines in association with the Small Business Administrations such as 7a, and SBA Express programs and provides finances to business concerns that render an enhanced flexibility which is very essential for the growth of any business concern.

Asset Based Financing TCF Bank provided Asset Based Financing raises the creditability of a business concern as the inventories as well as the money that a business concern is expected to receive from notes or accounts rises. This kind of financing as offered by the TCF Bank facilitates the purchases of equipments, real property, and other such things besides the reconstituting of debt or to strengthen the cash situation of the business concern.

Commercial Real Estate LoansTCF Bank through its relationship managers makes provision for a host of Commercial Real Estate and building loans especially in order to finance the real estate owners, and constructors.

Commercial Insurance policies circulated and sold by the TCF Bank

TCF Bank also undertakes the sales of Commercial Insurance policies in addition to the personal insurance policies issued by it in the insurance market. These TCF Commercial Insurance policies are customized to meet the unique needs of every business concern.

Commercial Property Insurance policy provides insurance coverages for the properties which are essential for the smooth operation of every business concern including machinery and equipments, vehicles, and the premises of the business organization.

Commercial Liability Insurance policy provides insurance coverages for the products and/or services which are sold by the respective business organization. This insurance policy also insures the business concern against lawsuits which may be filed for personal bodily injuries or property damages undergone by third parties while in the business premises of the insured business organization.

Workers Compensation Insurance policy provides insurance coverages for the injuries or illnesses related with work which the employees may go through. This insurance policy at the same time provides protection to the employer in case the affected workers file legal cases against him or her.

Services and products provided by the TCF Bank to take care of the Investment requirements of any kind of business concern.

TCF Bank is well equipped to address each and every investment need of any commercial organization. It has on offer several services and products for fulfilling the Investments requirements of any business concern.

Sweep AccountFunds which are not added to the working capital of a business concern, that is, the funds that are beyond a certain level (which is fixed in advance) is transformed into a mutual fund, on a daily basis.

Discount Brokerage TCF Bank Express Trade self-directed discount brokerage accounts can be formed by business concerns in order to be entitled to the benefits of broker-assisted as well as online trading at commission rates which are competitive through TCF Investments.

TCF Bank and the different types of TCF Online Banking options provided by it.

Similar to the Online Banking options provided along with Personal Banking, TCF Bank offers Free Online Banking to allow for the commercial customers to access their respective TCF Bank accounts to add to TCF Express Business Online Banking which in addition furnishes a wide range of Online services allotted by the bank authorities to make the process of banking effortless and as convenient as possible.

TCF Bank offered Online banking services are put to use by numerous customers of the TCF Bank to supervise the commercial transactions effected upon their own personal accounts as well as transfer balances from one place or account to another, at all times if the day without having to move from the convenience of one's home or office.

Customers can make use of the facilities of Online banking as provided by TCF Bank to its commercial customers in order to initiate business dealings, ensure the active conduct of the working capital and also to optimize the use of the working capital of the respective business concern.

Express Business Online Banking The most extensive online banking service provided to commercial account holders by TCF Bank with enhanced cash management instruments.

Preferred Online Business Banking Minor commercial customers on the lookout for innovative Online Banking characteristics with enhanced retention capability of transaction history.

Totally Free Online Banking TCF Bank provides access to business concerns which are small scale commercial organizations to keep track of all kinds of business transactions undergone by the commercial accounts entirely free of cost.

Fraud Prevention Instruments that are put in place by the TCF Bank.

The different types of advanced Fraud Prevention instruments that are put to use by the TCF Bank authorities to protect their customers against every possible fraud threat are of different types.

These advanced Fraud Prevention instruments are discussed in details as follows:

Positive PayPositive Pay is an advanced service which can be put to use through the extensive Express Business Online Banking services in order to put a check on the fraudulent transactions that any commercial account may be subjected to. This advanced system takes care that unauthorized fraudulent checks drawn on the commercial account of the account holder are not credited when delivered to the teller machines of the TCF Bank. This system also ensures that checks which are not authorized and delivered during the night are placed before the account holder every morning for authorization.

ACH Debit Block and FilterEvery electronic debit entry that is found to be unauthorized or fraudulent is rejected and thereafter turned back to the originator before posting such unauthorized or fraudulent electronic debit entries to the commercial account of the account holder by applying the ACH Debit Block services.

Whereas the ACH Debit Filter enhances the activity of the commercial account by empowering the account holder to authorize from a single to as many electronic debit transactions in accordance with the maximum permissible limit of the TCF Bank.

Leasing Facilities provided by TCF Bank.

The facilities in regards to leasing are provided under three schemes by the TCF Bank.

Winthrop Resources Customized leasing methods as well as economic schemes that are spread over much longer time periods are adopted by Winthrop to solve the problems related to leasing that are commonly interacted by the business concerns which make use of technological equipments.

TCF Bank is mainly concerned with the following kinds of leases which are offered by it :

leasing of new as well as used high-tech machinery and equipments

buying and leaseback of contemporary machinery and equipments

buying and selling of machinery and equipments which are outdated, and

leases and rentals of machinery and equipments for shorter time periods.

Equipment Finance provided by the TCF BankTCF Bank offers several lease options which are customized to meet the specific needs of each and every business that is however small in size. TCF Bank also has on offer customized financial answers to all the cash flow and budget problems that may be interacted by a small business concern.

VGM Financial Services The VGM Financial Services of the TCF Bank makes provisions for the lease of machinery and equipments and at the same time also detects solutions to get over the problem of constraints that may be experienced by the budget of a business concerns especially those belonging to the golf, club and health care markets.

The TCF Bank owned VGM Financial Services also has lined up - ONE Call Service, a specialized financial leasing service that equips vendors so that they are able to sell more machinery and equipments and at the same time it also supplies its customers with their required cash flow demands.

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Contributors

Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".

Nouriel Roubini, a.k.a. “Doctor Doom”, is chairman of Roubini Global Economics and professor of economics at New York University’s Stern School of Business. Roubini has been consistently cited as one of the world’s top global thinkers. This year, he was voted as the most influential economist in the world by Forbes magazine.

Dr Steinbock is an internationally recognized expert of the multipolar world. He focuses on international business, international relations, investment and risk among all major advanced economies and large emerging economies. In addition to advisory activities (www.differencegroup.net), he is affiliated with India China and America Institute (USA), Shanghai Institutes for International Studies (China) and EU Center (Singapore). For more, please see http://www.differencegroup.net/. Research Director of International Business at India China and America Institute (USA) and Visiting Fellow at Shanghai Institutes for International Studies (China) and the EU Center (Singapore).